Bill
Bill > HB6259
MI HB6259
Probate: trusts; charitable organization as a qualified trust beneficiary; modify. Amends secs. 7103 & 7110 of 1998 PA 386 (MCL 700.7103 & 700.7110).
summary
Introduced
12/05/2024
12/05/2024
In Committee
12/18/2024
12/18/2024
Crossed Over
12/13/2024
12/13/2024
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
102nd Legislature
Bill Summary
A bill to amend 1998 PA 386, entitled"Estates and protected individuals code,"by amending sections 7103 and 7110 (MCL 700.7103 and 700.7110), as amended by 2024 PA 1.
AI Summary
This bill amends the Estates and Protected Individuals Code by modifying the definition of a "qualified trust beneficiary" and allowing certain charitable organizations to have the rights of a qualified trust beneficiary. The key changes include:
1. Clarifying the criteria for who qualifies as a "qualified trust beneficiary" and excluding certain beneficiaries with low probability or distant expectation of receiving trust distributions.
2. Allowing a charitable organization expressly designated to receive distributions under a charitable trust to have the rights of a qualified trust beneficiary if certain conditions are met.
3. Granting the rights of a qualified trust beneficiary to a person appointed to enforce a trust for the care of an animal or another non-charitable trust, as well as to a person with a nondisclosure correlative right or protection power over a trust.
4. Maintaining the Attorney General's rights with respect to charitable trusts having their principal place of administration in Michigan.
Committee Categories
Government Affairs, Justice
Sponsors (1)
Last Action
Referred To Committee On Government Operations (on 12/18/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://legislature.mi.gov/Bills/Bill?ObjectName=2024-HB-6259 |
| BillText | https://legislature.mi.gov/documents/2023-2024/billengrossed/House/htm/2024-HEBH-6259.htm |
| Fiscal Note/Analysis - House: Summary as Introduced | https://legislature.mi.gov/documents/2023-2024/billanalysis/House/pdf/2023-HLA-6259-A218216D.pdf |
| BillText | https://legislature.mi.gov/documents/2023-2024/billintroduced/House/htm/2024-HIB-6259.htm |
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